ANS: A Memorandum of Understanding (MoU) on establishing semiconductor supply chain and innovation partnership under the framework of India – US Commercial Dialogue was signed between the two countries following the Commercial Dialogue 2023 held in New Delhi Delhi on Friday.
On the invitation of Piyush Goyal, Union Minister of Commerce and Industry, the US Secretary of Commerce, Gina Raimondo is on a visit to New Delhi. During this visit, the India-US Commercial Dialogue was re-launched today to discuss cooperation for unlocking new trade and investment opportunities between the two countries.
The MoU seeks to establish a collaborative mechanism between the two governments on Semiconductor Supply chain resiliency and diversification in view of US’s CHIPS and Science Act and India’s Semiconductor Mission.
It aims to leverage complementary strengths of both countries and facilitate commercial opportunities and development of semiconductor innovation ecosystems through discussions on various aspects of semiconductor value chain. The MoU envisages mutually beneficial R&D, talent and skill development.